OAKLAND, Calif., March 30, 2020 /PRNewswire/
-- Poets&Quants, the definitive online publication for
business education news, has published a report showing the
thoughts and expectations of MBA admits on the state of their
program amid restrictions in place due to the coronavirus
outbreak.
Roughly a third of prospective students already admitted to top
business schools say they want to defer their admission this year.
Even more worrisome for B-schools, 43% believe tuition fees should
be cutback by an average of 37.5% if the fall term is taught
online.
The results come from a Poets&Quants survey of more than 750
current admits and prospects to top MBA programs this years. Some
respondents believe their tuition bills should be cut on a prorated
basis for the time they are denied a more fully immersive on-campus
learning experience. Only 17% of the prospective MBA students say
they would be okay attending online classes, while 96% say their
opportunity to attend face-to-face classes is a major concern.
"I'm sure the education will be great, but I will be missing out
on social and personal growth opportunities that I hoped for with
my MBA," explained one respondent. Added another: If the university
already has an online program, then I would expect that the first
semester would mirror the cost of that program."
The online survey, conducted on Friday, found that business
schools need to be aware that admits to this fall's incoming
classes have a lot on their minds. All told, 758 admits, applicants
and students responded to the survey of registered users at
Poets&Quants.
Despite the uncertain environment caused by both the coronavirus
pandemic and an ensuing global recession, the majority of admits to
this year's incoming classes still believe an MBA degree will have
a positive impact on their professional, financial and personal
lives—even if it is deferred a year.
Other findings from the 2020 Applicant Pool:
- 48.8% believe their ability to apply to and attend the program
of their choice will be negatively impacted by the coronavirus
outbreak
- 32.4% of current applicants are worried about missing out on
the full MBA experience due to the shift toward online
learning
- 24.2% express worry about the high level of debt they expect to
have and their inability to land a job quickly after
graduation
- 12.6% are concerned about their health and that of their
families
- 10.0% say they are worried about not being able to get their
choice of both an MBA internship and post-MBA job
- 8.7% are concerned about their ability to get a student visa to
attend school in the U.S.
- 6.3% are worried about travel restrictions that would force
them to defer their education or begin classes online.
Highlights from Current Students:
Missing out on commencement and network-building is the largest
concern, followed by job search, debt and then other concerns such
as:
- Difficulty adjusting to online classes, particularly case
classes
- Lack of communication from schools
- Economic collapse
- Losing post-MBA job offer
- Racism against Asians contributing to even fewer job
opportunities
Current students value the MBA degree slightly less than new
admits in terms of professional and financial impact but more
highly in the area of personal growth.
"What we discovered is that just about everyone—current
applicants, this year's admits so far and MBA students—all are
pretty anxiety ridden at the moment," says John A. Byrne, founder and editor-in-chief of
PoetsandQuants.com, "Students are getting very nervous about the
MBA job market when they graduate in a few months. Applicants worry
about having to settle for online courses that would force them to
miss out on the full MBA experience, and candidates already
admitted to a program wonder whether it's worth attending,
especially if they have to start the program online."
Current students who responded to our survey value the MBA
degree slightly less than new admits in terms of professional,
financial impact, and personal growth with an overall rating of
3.1.
Applicants already admitted to a top business school are most
confident that the MBA will benefit them professionally, with the
average score on the professional value of the degree a 4.11 on a
scale of one to five with five being highest. They are a little
less certain about the personal value, rating it a 3.9. But their
worries over the financial benefits is reflected in an average
score of 3.4, well below the overall 3.8 score across all three
measurements of value.
Read the entire report here.
For more information, visit
https://poetsandquants.com/2020/03/29/pq-survey-a-third-of-admits-may-defer-while-43-want-tuition-lowered-if-classes-are-online/?pq-category=business-school-news
About Poets&Quants:
Poets&Quants is the leading resource for complete coverage of
graduate business education. We feature multiple tools and
authoritative content, including: consolidated B-school rankings,
news and in-depth features, videos, podcasts, two searchable
directories and events, empowering our community with information
needed to make decisions along their journey from pre- to
post-MBA.
This press release was issued through 24-7PressRelease.com. For
further information, visit http://www.24-7pressrelease.com.
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